Starbucks

**NetLease** · 07-14-2008, 11:38 AM

Does anyone hold or list any Starbucks properties that are closing? Starbucks announced they are closing close to 600 stores last week.

**wchua24** · 07-14-2008, 02:08 PM

i never heard that yet.. so what is the main reason of closing down 600 stores last week? thats this involve lack of marketing? or something?

**NetLease** · 07-14-2008, 04:32 PM

Starbucks expansion strategy was flawed. Most of their issues are new stores in terciary markets. The stores were sucking wind. In the end, the remaining stores will be standing strong. It might be good that SBUX is buying out the dogs now, b/c the owners will get cash in hand that will enable the owners to find other tenants now.

This is a much better situation than waiting 10 years for the lease to mature and SBUX walking and leaving you holding the bag.

**wchua24** · 07-15-2008, 06:20 AM

Originally Posted by NetLease

Starbucks expansion strategy was flawed. Most of their issues are new stores in terciary markets. The stores were sucking wind. In the end, the remaining stores will be standing strong. It might be good that SBUX is buying out the dogs now, b/c the owners will get cash in hand that will enable the owners to find other tenants now.

This is a much better situation than waiting 10 years for the lease to mature and SBUX walking and leaving you holding the bag.

ah i get it now thanks for explaining it to me..im an building admin last year of a certain establishment and starbucks is our client to i wonder if it still there..

**rainier** · 07-24-2008, 07:20 AM

well I never heard of that news though that will be a big news are they open for selling?

**BigWill** · 07-28-2008, 01:49 AM

Someone told me that they are about to close a couple of shops and lay off workers but not exactly where.

**abhelle15** · 08-28-2008, 11:08 PM

Layoffing workers is sure is a hard thing to do

**NetLease** · 09-02-2008, 07:06 PM

Originally Posted by rainier

well I never heard of that news though that will be a big news are they open for selling?

The company selling? Or the stores selling? There are plenty of stores still for sale...ones that are still open and ones that have been shuttered.

I wrote an article about it on my blog if interested. The list of stores has been out for a while. If anyone has Starbucks as a tenant, you can refer them to this message board. We just finished this site today and have been getting the word out to the owners that they can discuss their situations here, perhaps commiserate on legal issues and/or find a replacement tenant.